A bill to impose an excess profits tax on the income of corporations engaged in the production of petroleum and petroleum products for a limited period.

referredUnited States· United States Congress· EN

Introduced

31 July 1975

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Imposes a tax equal to 40 percent of the excess profits of corporations engaged in the production of petroleum and pretroleum products for each taxable year which begins during a three-year period following enactment of this Act. Sets forth the computation formula for the excess profits deduction for a taxable year.

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Documents

1 official file

Introduced in House
summary · EN · 31 July 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/9179
Open data entity: https://api.congress.gov/v3/bill/94/hr/9179